Mike Mayo Tells Wall Street Analysts What To Do If They're Getting Bullied By A CEO $JPM
Today the infamously feisty Mayo got a chance to shake it off on CNBC's Squawk On The Street with Carlos Quintanilla.
Mayo's bottom line: It's time for shareholders to start getting active. He's started buying 100 shares in companies that he'd like to see improve. The point, of course, is that he can get rowdy at investor day should he so choose. Citigroup, Mayo said, is his first priority right now.
"I think the change of CEO at Citigroup could be epic," he said.
A few words on his thesis for Citi and Quintanilla was on to the question on everyone's mind — Does having spats with CEOs make Mayo a better analyst?
"I think it's the job of an analyst to hold management's feet to the fire, ask questions such as... how are you going to create more value for shareholders?," Mayo responded. "By all means that's my job that's every analysts job to do that. I don't think it's been done enough with regard to Wall Street. Look, when you look at the financial crisis, investors weren't doing their job, regulators weren't doing their job, nobody was minding the store. So we have a choice right now, either we investors can step up to the plate or you're going have more regulation. I prefer the former — that shareholders, me, other analyst like myself speak up...at annual meetings."